Evolv Technologies (EVLV) Q2 2025 Earnings
How Did EVLV Stock React to Q2 2025 Earnings?
S&P 500 over the same 30 days: +2.45%.
Did EVLV Beat Earnings? Q2 2025 Results
Yes. Evolv Technologies reported Q2 2025 earnings of $-0.02 a share on Aug 14, 2025, beating the $-0.04 consensus estimate by 42.9%. Revenue was $32.5M against a $30.9M estimate.
Evolv Technologies delivered a clean beat across the board in the second quarter of 2025, posting adjusted EPS of negative $0.02 against a consensus estimate of negative $0.04, a 42.86% positive surprise, while revenue of $32.54 million grew 27.4% year-over-year and topped estimates by 5.17%. The headline driver was a continued surge in subscription adoption, with recurring revenue of $26.68 million growing 27% and annual recurring revenue reaching $110.52 million, providing durable visibility into future cash flows. Perhaps more telling than the top-line beat was the swing in operating cash flow to positive $2.10 million from negative $21.60 million a year ago, reflecting the operational discipline that also pushed adjusted EBITDA into positive territory at $2.04 million. Cantor Fitzgerald raised its price target on the stock to $9 following the results, citing the company's strong positioning under new management. Building on the momentum, Evolv raised its full-year 2025 revenue guidance to $132 to $135 million, implying 27% to 30% growth, and expects to reach positive cash flow in the fourth quarter.
- 29% year-over-year revenue growth driven by customer acquisition and expansion
- ARR of $110.5 million, up 27% year-over-year
- Surpassed 1,000 customers served
- Recurring revenue grew 27% year-over-year to $26.7 million
- Adjusted operating expenses decreased to $21.6 million from $26.7 million year-over-year
- Operating cash flow improved to $2.1 million positive from $(21.6) million in Q2 2024
“Our second quarter results were marked by strong revenue growth, continued customer acquisition and expansion, and improved visibility that positions us well as we evolve into a more predictable and scalable business. We believe that surpassing 1,000 customers served—and having screened over 3 billion visitors to date—reflects the market's growing trust in our solutions. Looking ahead, we're encouraged by the opportunity in the AI-based security screening market and remain focused on delivering consistent, high-quality performance.”
Evolv Technologies CEO, on the earnings call
What Was Evolv Technologies's Outlook in Q2 2025?
Evolv raised its full-year 2025 revenue guidance to $132-$135 million, reflecting 27%-30% growth compared to 2024, up from prior guidance of $125-$130 million (20%-25% growth). The company expects positive full-year Adjusted EBITDA with Adjusted EBITDA margins in the mid-single digits. The company expects to be cash flow positive in the fourth quarter of 2025.
EVLV YoY Financials
| Metric | Q2 2025 | Q2 2024 | Year over year |
|---|---|---|---|
| Revenue | $32.5M | $25.5M | +27.4% |
| Gross Profit | $16.2M | $14.5M | +12.1% |
| Operating Income | −$17.5M | −$14.4M | +21.7% |
EVLV Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.